Top 11 Cash Manager Certifications

Certifications for a cash manager are important because they demonstrate to potential employers that the individual has the necessary knowledge, skills, and abilities to perform the job. The certifications show that the individual is qualified and experienced in handling cash management duties. They also provide an assurance of quality, as employers know that certified professionals have been trained in best practices and industry standards. Certifications also provide proof of recent training, which can be important in a rapidly changing job market. Furthermore, certifications may give the cash manager an edge over other applicants when competing for jobs.

The purpose of this article is to review some of the top certifications for Cash Managers and explain how they can help advance a cash manager's career.

What are Cash Manager Certifications?

Cash Manager Certification is a professional certification that provides individuals with the knowledge and skills necessary to manage cash flow in a business. This certification can help individuals gain an understanding of how to manage and monitor cash flows, develop strategies for increasing revenues and reducing costs, create financial forecasts, analyze financial statements, and more. With this certification, individuals will be able to identify opportunities for cost savings and revenue growth while managing risk. They will also be able to understand the implications of cash flow decisions on other areas of the business such as operations, marketing, and finance. Additionally, they will be able to identify potential external sources of financing that could provide additional capital for their business. This certification can help individuals become more confident in managing their businesses’ finances and make better decisions that will benefit their organization in the long run.

Pro Tip: When considering a cash manager certification, make sure to research the program and its credentials thoroughly. Ensure that the program is accredited and provides comprehensive instruction on best practices for cash management. Additionally, look for certifications that are regularly updated to reflect industry changes and trends.

Related: What does a Cash Manager do?

Top 11 Cash Manager Certifications

Here’s our list of the best certifications available to Cash Managers today.

1. Certified Cash Manager (CCM)

Certified Cash Manager (CCM) is a professional certification program designed to recognize individuals who have achieved a high level of knowledge and proficiency in the management of cash and financial assets. The CCM certification is offered by the Institute of Certified Professional Managers (ICPM).

The CCM certification requires applicants to pass an exam that covers topics such as cash flow analysis, banking operations, treasury management, risk management, and financial reporting. The exam consists of multiple-choice questions and takes approximately three hours to complete.

To be eligible for the CCM certification, applicants must have at least two years of experience in cash or treasury management. Applicants must also submit an application form with supporting documents such as a resume, letters of recommendation, and proof of education. Once the application is approved, applicants can register for the exam.

The cost of the exam varies depending on where you take it but generally ranges from $400-$500 USD. Additionally, there may be additional fees associated with registration and/or materials needed to prepare for the exam.

2. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). The CTP certification demonstrates that the holder has a high level of knowledge and expertise in treasury management. The CTP credential is recognized as the global standard of excellence for treasury professionals.

In order to obtain the CTP designation, candidates must pass an exam that covers topics such as cash management, risk management, investments, international finance, financial analysis and corporate finance. Candidates must also have at least three years of professional experience in treasury or related fields.

The exam typically takes four hours to complete and is offered twice a year in April and October. Candidates who successfully pass the exam will receive their CTP designation within four to six weeks after the exam date.

The cost of taking the CTP exam varies depending on whether you are an AFP member or non-member. For AFP members, the cost is $450; for non-members, it is $650. In addition to this fee, there may be additional costs associated with study materials and other resources needed to prepare for the exam.

3. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It recognizes individuals who have achieved an advanced level of knowledge and expertise in management accounting.

The CGMA designation requires applicants to pass two exams: The CGMA Competency Framework Exam and the CGMA Strategic Case Study Exam. The CGMA Competency Framework Exam tests core competencies such as financial reporting, strategic planning, cost management, risk analysis, business analytics, and ethical decision-making. The CGMA Strategic Case Study Exam tests an individual’s ability to apply their knowledge to real-world scenarios.

It typically takes between 12-18 months to complete the requirements for the CGMA designation. This includes studying for and passing both exams as well as completing a minimum of two years of professional experience in management accounting or finance roles.

In order to get the CGMA designation, individuals must first register with CIMA or AICPA. They will then need to pay a registration fee which varies depending on which organization they choose. After registering, applicants can begin studying for the exams using online resources provided by CIMA or AICPA. Once they have passed both exams, they will be eligible for the CGMA designation.

The cost of getting the CGMA designation varies depending on which organization you choose to register with but generally ranges from $500-$1000 USD.

4. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation that indicates an individual has met the educational, experience, and examination requirements established by the state in which they practice. CPAs are licensed by their respective states to provide a variety of accounting services to individuals and businesses. These services include auditing financial statements, preparing tax returns, providing financial advice, and consulting on business decisions.

It typically takes at least four years to become a CPA. To qualify for licensure, candidates must have completed 150 semester hours of college-level coursework and have one year of public accounting experience. In addition, they must pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

The cost of becoming a CPA varies depending on where you live and how many courses you need to take to meet the educational requirements. Generally speaking, it can cost anywhere from $2,000-$4,000 for tuition and fees associated with completing the necessary coursework. Additionally, there may be additional costs associated with taking the exam such as registration fees or study materials.

5. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by The Institute of Internal Auditors (IIA). It is the most recognized certification for internal auditors and is designed to measure the proficiency and knowledge of those working in the internal audit profession. The CIA certification demonstrates a commitment to the highest standards of professional practice and provides assurance that an individual has met rigorous requirements set by the IIA.

The CIA program consists of three parts: Part 1 – Internal Audit Basics, Part 2 – Practice of Internal Auditing, and Part 3 – Business Knowledge for Internal Auditing. Each part must be completed successfully before proceeding to the next part.

To become a Certified Internal Auditor, you must pass all three parts of the exam within an 18-month period. You will also need to meet certain experience requirements, which vary depending on your educational background.

The cost for taking each part of the exam varies depending on your country/region, but typically ranges from $400-$500 USD per part. In addition to this fee, you will also need to pay an application fee when registering for the exam.

In order to maintain your CIA certification, you will need to complete at least 40 hours of continuing professional education every year and renew your membership with The Institute of Internal Auditors annually.

6. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional certification awarded by the Certified Financial Planner Board of Standards, Inc. It is a voluntary certification that demonstrates a financial planner's commitment to high ethical standards and knowledge of financial planning.

In order to become certified, a financial planner must complete an accredited program and pass the CFP Certification Exam. The program typically takes two years to complete and requires coursework in areas such as investments, insurance, taxes, retirement planning, and estate planning.

To get the CFP certification, you must first meet the education and experience requirements set by the CFP Board. This includes completing an approved college-level course of study in personal financial planning or related fields (such as accounting or law), obtaining three years of full-time work experience in the financial services industry, and passing the CFP Certification Exam.

The cost of becoming certified varies depending on your educational background and other factors. Generally speaking, it can cost anywhere from $2,000-$5,000 for tuition fees for the required courses; additional costs may include exam fees ($695) and application fees ($50).

7. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification offered by the Institute of Management Accountants (IMA). This certification is designed to recognize individuals who demonstrate expertise in financial planning, analysis, control, decision support, and professional ethics. The CMA credential demonstrates that an individual has the knowledge and skills necessary to be successful in management accounting and financial management roles.

To get the CMA designation, you must meet certain eligibility requirements and pass two rigorous exams. To be eligible for the CMA exam, you must have a bachelor’s degree from an accredited college or university or equivalent experience. You must also have at least two years of professional experience in management accounting or financial management.

The CMA exam consists of two parts: Part 1 covers Financial Planning, Performance & Control; and Part 2 covers Financial Decision Making. Both parts are four hours long with 100 multiple-choice questions each. The exams are administered twice a year at Prometric testing centers worldwide.

The cost of taking the CMA exam varies depending on your country of residence and whether you are an IMA member or not. In general, it costs around $450 USD for non-members and $400 USD for members to take both parts of the exam. Additionally, there may be additional fees for late registration or rescheduling your exam appointment.

Overall, it can take anywhere from 6 months to several years to complete the entire process of becoming a Certified Management Accountant (CMA). It depends on how quickly you can complete all the necessary steps such as studying for the exams, gathering documents for eligibility verification, registering for the exams etc.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA Program is a self-study, graduate-level program that combines a broad base of investment knowledge with real-world skills. It takes an average of four years to complete the program and earn the CFA charter.

To become a CFA charterholder, candidates must pass three levels of exams administered by the CFA Institute. Level I focuses on ethical and professional standards; quantitative methods; economics; financial reporting and analysis; corporate finance; equity investments; fixed income; derivatives; alternative investments; portfolio management and wealth planning. Level II focuses on portfolio management techniques and asset valuation, while Level III focuses on portfolio management and wealth planning.

The cost to take each level of the exam varies based on when you register for it. Generally, it costs around $1,000 for each level if you register early. Additionally, there are study materials available from the CFA Institute that cost anywhere from $200 to $2,500 depending on what type of materials you choose to purchase.

9. Accredited Cash Manager (ACM)

Accredited Cash Manager (ACM) is a professional certification designed to demonstrate an individual’s knowledge and expertise in the field of cash management. The ACM designation is awarded by the Institute of Financial Operations, a leading provider of financial operations certifications and education.

The ACM certification program consists of three courses: Principles of Cash Management, Advanced Cash Management, and Professional Practices in Cash Management. Each course focuses on different aspects of cash management, including cash flow forecasting, liquidity management, payment systems, debt management, and more. The courses are offered both online and in-person at various locations around the world.

It typically takes about six months to complete all three courses and earn the ACM designation. To get started, you must first register for the program with the Institute of Financial Operations. The cost for registration varies depending on which type of course you choose to take (online or in-person). In general, it costs between $1,200-$2,000 USD to register for all three courses.

Once you have completed all three courses and passed the exams associated with each one, you will be eligible to receive your ACM certification from the Institute of Financial Operations. This certification demonstrates that you have demonstrated mastery in cash management principles and practices.

10. Professional Risk Manager (PRM)

Professional Risk Manager (PRM) is a professional certification offered by the Professional Risk Managers’ International Association (PRMIA). It is designed to recognize individuals who have achieved a high level of proficiency in risk management. The PRM designation is an internationally recognized qualification that demonstrates an individual’s knowledge and expertise in managing risk.

The PRM program consists of three levels: Foundation, Professional and Expert. To receive the PRM designation, candidates must pass all three levels of exams within a five-year period. The Foundation exam tests basic knowledge and understanding of risk management principles, while the Professional exam tests more advanced concepts and techniques. The Expert exam focuses on complex risk management topics such as derivatives, capital markets and enterprise risk management.

To be eligible for the PRM program, applicants must have at least two years of professional experience in risk management or related fields. Applicants are also required to submit letters of recommendation from their employers or colleagues attesting to their qualifications for the program.

The cost of the PRM program varies depending on which level you are taking and whether you are taking it online or in person. Generally speaking, it costs around $1,000-$2,000 USD per level to take the exams online, while it can cost up to $3,000 USD per level to take them in person.

In addition to passing all three levels of exams within five years, candidates must also complete 60 hours of continuing education credits every two years to maintain their designation as a Professional Risk Manager (PRM).

11. Chartered Financial Consultant (ChFC).

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed to provide financial advisors with the knowledge and skills to help their clients plan for their financial future.

To become a ChFC, an individual must complete a series of courses that cover topics such as estate planning, investment planning, retirement planning, insurance planning, tax planning, and risk management. The courses are offered in both online and classroom formats. To obtain the ChFC designation, individuals must pass a comprehensive exam that covers all of the course material.

The total time it takes to obtain the ChFC designation depends on how quickly an individual can complete the coursework and pass the exam. Generally speaking, it can take anywhere from six months to two years to complete all of the requirements for this designation.

In order to get started on obtaining your ChFC designation, you will need to register with The American College of Financial Services and select your desired coursework package. You will then need to pay a fee which varies depending on the package you choose; however, fees typically range from $2,000-$4,000 USD. After completing your coursework and passing your exam, you will be eligible for the ChFC designation.

Once you have obtained your ChFC designation, there are several ways in which you can maintain it. This includes completing continuing education credits each year as well as adhering to ethical standards set forth by The American College of Financial Services.

Do You Really Need a Cash Manager Certificate?

A Cash Manager Certificate is a valuable credential that can help open the door to a new career in cash management. For those interested in taking on the responsibilities of managing and controlling cash flow, a Cash Manager Certificate can be an invaluable asset. This certificate demonstrates a professional level of understanding and expertise in cash management, which can be beneficial for those seeking job opportunities or advancements within their current organization.

The benefits of having a Cash Manager Certificate are numerous. First and foremost, it shows potential employers that you have taken the initiative to invest in your own professional development by obtaining the necessary skills and knowledge required to be successful in this field. It also demonstrates to employers that you have the ability to manage accounts, create financial reports, and develop strategies for controlling cash flows. Furthermore, having this certification may increase your chances of being considered for promotions or other job opportunities within companies that require cash management skills.

However, whether or not you need a Cash Manager Certificate depends on your individual goals and objectives. If you are currently employed in a position where you already have some experience with managing money and accounts, then obtaining this type of certification may not be necessary for you. On the other hand, if you are looking to break into the field of cash management or gain employment at an organization where such skills are required, then having this certificate could prove to be invaluable. Additionally, if you wish to expand your knowledge base beyond basic accounting principles and procedures then obtaining this certificate could give you an edge over other applicants who do not possess it.

In conclusion, whether or not you need a Cash Manager Certificate largely depends on your own personal career goals and aspirations. Those who wish to work in positions where they will be responsible for managing accounts and controlling cash flows should strongly consider obtaining this certificate as it can help open up more job opportunities and provide them with the necessary tools to succeed in their chosen profession.

Related: Cash Manager Resume Examples

FAQs About Cash Manager Certifications

Q1. What is a Cash Manager Certification?

A1. A Cash Manager Certification is a professional certification that demonstrates knowledge and proficiency in cash management practices. It is designed to help individuals become more knowledgeable and competent in managing cash flows, investments, budgeting, banking, and other related topics.

Q2. How do I get a Cash Manager Certification?

A2. To obtain a Cash Manager Certification, you must complete an approved program from an accredited institution or organization offering the certification. Depending on the program chosen, you may need to take courses or complete exams in order to earn your certification.

Q3. How long does it take to get a Cash Manager Certification?

A3. The duration of the program varies depending on the institution or organization offering the certification, as well as your own experience and level of commitment to completing the requirements for the certification. Most programs require between 12-18 months of study and practice before you are eligible for the certification exam.

Q4. What are some benefits of having a Cash Manager Certification?

A4. Having a Cash Manager Certification can provide numerous benefits such as increased job opportunities, higher salaries, improved job security, recognition among peers and employers, increased professional credibility, and more comprehensive knowledge of cash management practices and principles.

Q5. What type of jobs can I apply for with a Cash Manager Certification?

A5. With a Cash Manager Certification you can pursue various positions such as Chief Financial Officer (CFO), Treasurer, Controller, Financial Analyst or Consultant, Investment Banker/Advisor, Risk/Compliance Officer or Auditor, Accountant/Bookkeeper/Auditor/Analyst/Consultant